STEPHEN FLEMING serves as Vice President for Finance at Pacific Clean Energy Partners.  He brings over twenty-five years of transactional experience to the PCEP team, with deep experience in structuring both equity and credit transactions in emerging markets, as well as private and public equity experience in the United States.

Stephen most recently worked at the Asian Development Bank, where he managed a series of donor-sponsored climate finance funds within the Private Sector Operations Department.  As the fund manager for the Canadian Climate Funds (I & II) he oversaw $230 million of climate change mitigation and adaptation funding, putting capital to work on concessional terms in a variety of wind, solar, hydropower, and agricultural adaptation projects in Indonesia, Vietnam, Cambodia, Nepal, Bangladesh, Samoa, Georgia, Afghanistan, and other countries in developing Asia.  He also assumed interim management of the Leading Asia’s Private Sector Infrastructure Fund, a cofinancing fund sponsored by the Japan International Cooperation Agency (JICA) with $1.5 billion of assets under management in a wide variety of ADB-financed energy and infrastructure projects.

Prior to ADB, Stephen served as the Finance Director of PointVerde, a Mexico City-based venture-backed provider of energy efficiency and distributed energy development services with operations in Mexico and Colombia, and as a Director at Clean Energy Associates, a Shanghai-based solar energy consultancy.  During 2005-2011, he was a Senior Investment Analyst and team leader at ADM Capital, a Hong Kong-based private investment firm with US$2.5 billion under management.  At ADM, Stephen worked to invest more than US$550 million in a series of private transactions in Turkey, China, Vietnam, and Japan, including several investments in the solar equipment manufacturing sector in China.  During 2001-2004, he was Director of the Industry Support Program at the Massachusetts Renewable Energy Trust, and during 1995-1999 he was an Equity Research Analyst at Robertson, Stephens & Company, a technology-focused investment bank.  Stephen has an MBA from Harvard Business School, and a BA in Government and East Asian Studies from Harvard College.